nprofile1qy2hwumn8ghj7un9d3shjtnyd968gmewwp6kyqpqenxv76j3y4agplp594rhcchp0qn6knl3z4dnqqffhqptgdcjkapq09uana (nprofile…uana) nprofile1qy2hwumn8ghj7un9d3shjtnyd968gmewwp6kyqpqqm3r30r7hfrfd7q7d9aj62vutk522hkhvzvfh0npr242kyqlw8eq9un8vl (nprofile…n8vl)
Musk’s wealth grew primarily via shenanigans with privately held companies. The same was true of Zuckerberg. Facebook avoided becoming public for a long time by dodging the limit on shareholders by having a derivative fund that owned a big chunk of the company and, itself, had a lot of shareholders (most of these cashed out in the IPO).
If shares in private companies are not taxed, the morbidly wealthy will put their wealth in private companies that buy convertible loan notes issued by public companies, which can be converted into shares on demand but are not actually shares.
If you simply start with a threshold of, say, $50M with a wealth tax, it doesn’t matter what form the wealth is stored in, it gets taxed. And it gets taxed more the more you have. If you declare your wealth as a lower amount then you pay less tax, but you pay a lot more capital gains tax as soon as you declare the value of something has gone up.
David Chisnall (*Now with 50% more sarcasm!*)
npub1ak…wtk0r
2026-05-31 18:41:33 UTC
in reply to nevent1q…ynv8
Author Public Key
npub1akvd69ev3lkgrej6cnftq6rluwkg2ksjayuuq2yzphejqqkgjmnsxwtk0rSeen on
wss://relay.ditto.pubPublished at
2026-05-31 18:41:33 UTCEvent JSON
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